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Presume a consumer's preference can be represented by the utility function U(X, Y)=X*Y. Also suppose the customer has $150 to spend and the price of good X is Px=$2 and the price of good Y is Py=$3. If the customer maximizes their utility subject to their budget constraint, how much of Good X and how much of Good Y will the customer purchase?
n a competitive market, all customers pay the similar price for the goods and services. Using the idea of consumer surplus, describe why each individual would be willing to pay a higher price
Why do you suppose that the market clearing interest rates on bank savings and time deposits have been rising relative to the market clearing interest rates on bank loans?
Principles of Microeconomics - There are 2 brands of cell phones that are almost identical except for some minor features: the A-Phone and the Pomegranate.
you must give up your full-time job which paid 50000 per year and you worked part-time for half of the year. the
Why is perfect competition usually a preferable market structure compared to monopoly? Discuss the conditions under which a monopoly would be the preferable market structure for productive efficiency.
If the demand for movies increases at the same time as the movie industry adopts labor-saving technology for producing movies, the equilibrium price for movies will increase, but the effect on the equilibrium quantity of movies is ambiguous. is this ..
what factors influence a firms competitive strategies? how does global economic competition impact the price elasticity
my neighborsare college students who sometimes have late-night parties. assume that the nuisance cost of these parties
Describe the microeconomic principles being used
Discuss how to use Coase theory to see mandated mercury emissions and what do you think Coase would say to a supporter of free market environmentalism.
Was this purchase a good deal for Khazad-dum Inc and what would then be the annual cost of Redwood National Park if the interest rate is 10% - What is the opportunity cost of the establishment of the park
1which of the following is the best example of an automatic stabilizer?a welfare paymentsb foreign aidc defense
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